XPL is currently trading around 0.1408 USDT, with a decline of about 6% over the past 24 hours, but based on the candlestick patterns, it hasn't lost control. The price dropped sharply from the high of 0.1506 to 0.1374 and then quickly rebounded to 0.1484. During this low point, trading volume surged to over 20 million USDT, indicating active accumulation by large orders at the bottom. Although there was some pullback afterward, the overall stability remained above 0.1400. The candlestick shows gradually decreasing bullish candles, with selling pressure clearly diminishing, and the bulls and bears moving toward balance.

From a moving average perspective, MA7, MA25, and MA99 are still trending downward, but XPL's price has already approached the short-term moving averages, showing signs of a golden cross. If subsequent volume can break through the 0.1440 resistance, it will essentially confirm a rebound trend, with the next target around the previous high of 0.1480-0.1500. Overall, this is a healthy oscillation adjustment, not a trend reversal, but rather a period of accumulation and preparation.

XPL is the native token of the Plasma public chain. Plasma itself is quite an interesting project— a Layer 1 chain specifically designed for stablecoins, with major selling points including gas-free transactions, ultra-high performance, and Bitcoin bridging solutions. The project went live on its mainnet in September 2025, with a total token supply of 10 billion. Considering the trillion-dollar stablecoin market, Plasma's fundamentals are indeed supported.

In recent months, XPL's decline from the end-of-year range of 0.16-0.17 was mainly due to the overall market correction and the unlocking pressure of previously released tokens. However, this also leaves room for subsequent community engagement and liquidity enhancement. As stablecoin acceptance gradually recovers and the DeFi ecosystem slowly revives, most analysts are optimistic about XPL's rebound potential, with target price ranges between 0.5 and 2 USD.

From an operational perspective, this current adjustment is a good opportunity to build positions. You can accumulate in stages within the support zone of 0.1370-0.1400, with a stop-loss below 0.1350. Focus on whether volume can break through 0.1440; once it does, consider adding more. In the medium to long term, holding is recommended to benefit from the stablecoin sector's growth. However, be cautious of the large token unlock scheduled for July, which may increase supply pressure. Adjust your positions flexibly based on ecosystem TVL growth and actions by major exchanges. Overall, this opportunity looks positive, and XPL has good rebound potential, making it suitable for investors with moderate risk tolerance.